Current Status and Development Prospects of Carbon Capture, Utilization, and Storage (CCUS) in China: Technical, Policy, and Market Perspectives
Feiran Yang, Chan Guo, Man Chen, Xuefeng Gong, Hong Zhao
Abstract
Based on in-depth investigation and analysis of the current situation of CCUS development in China, this paper combs and summarizes the technical status and development trends of the carbon capture, transportation, utilization and storage industry (CCUS) at home and abroad in recent years through comprehensive research, and conducts in-depth discussions on the existing technical problems and risks. The analysis shows that in the short term, China's CCUS will still be dominated by CO2-EOR (Enhanced Oil Recovery) utilization. CO2 mineralization utilization and chemical utilization will gain new development space with technological breakthroughs. Pure carbon dioxide storage is restricted by policies and costs in the short term, making it difficult to develop rapidly, and will be dominated by demonstration projects in the near future. Future development requires improving relevant laws, regulations and incentive policies, formulating scientific and reasonable systems, regulations and standard systems covering the construction, operation, supervision and termination of CCUS. It is also necessary to improve the source-sink matching of CCUS by forming a complete industrial chain that integrates capture, transportation, utilization, and storage. The construction of carbon dioxide transportation and storage hubs can generate economies of scale and commercial synergy, reduce the unit cost of CCUS projects, and improve the economic efficiency of CCUS projects by using CO2 miscible flooding to increase oil recovery and producing hydrogen with low emissions. Under China's ``dual carbon'' strategy, through the implementation of the proposed suggestions, China's CCUS industry can achieve healthy and sustainable development.